facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up

Sorry, no featured jobs currently.

- Advertisement -
 

« News Home

Boehner: No progress in talks



Published: Sat, December 8, 2012 @ 12:00 a.m.

Associated Press

WASHINGTON

House Speaker John Boehner said Friday there has been no progress in negotiations to avert a “fiscal cliff” combination of automatic tax increases and spending cuts in January and called on President Barack Obama to produce a new offer.

Hours later, Vice President Joe Biden again laid out the White House’s terms: raise the top two tax rates paid by upper-income earners and give the president authority to raise the government’s borrowing cap without the approval of Congress.

“Top brackets have to go up. The top rate should go to 39.6 percent,” Biden said, referring to the top Clinton- era tax rate. Obama campaigned on raising tax rates on individual income exceeding $200,000 and family income over $250,000, and he’s claiming his re-election as a mandate to insist on it. Republicans are offering new tax revenues through closing loopholes and curbing deductions.

Biden allowed that the White House is willing to negotiate over rates — even as he pressed a new administration demand for authority for Obama to unilaterally raise the national debt and avoid a reprise of the debt crisis of a year and a half ago.

“We have to have a mechanism to stop the brinkmanship for dealing with the national debt,” Biden said.

Boehner’s frustration seems to be mounting. He said that the White House has wasted another week and has failed to respond to Monday’s GOP offer to raise tax revenues and cut spending. Obama and Boehner spoke privately by phone Wednesday. Boehner described the conversation as pleasant “but just more of the same.”


Comments

1sewingnut(33 comments)posted 2 years ago

"demand for authority for Obama to unilaterally raise the national debt".....You have got to be kidding me. What ever happened to living within your means. Are we going to borrow more money from CHINA?!?!?

Suggest removal:

2redvert(2101 comments)posted 2 years ago

Living within your means is not the new way of life in America. Of course as long as someone else is paying the bills it seems to be fine with the obowser fans!

Suggest removal:

3AnotherAverageCitizen(1175 comments)posted 2 years ago

America’s presumably anti-tax party wants to raise your taxes. Come January, the Republicans plan to raise the taxes of anyone who earns $50,000 a year by $1,000, and anyone who makes $100,000 by $2,000.

Their tax hike doesn’t apply to income from investments. It doesn’t apply to any wage income in excess of $106,800 a year. It’s the payroll tax that they want to raise — to 6.2 percent from 4.2 percent of your paycheck, a level established for one year in December’s budget deal at Democrats’ insistence. Unlike the capital gains tax, or the low tax rates for the rich included in the Bush tax cuts, or the carried interest tax for hedge fund operators (which is just 15 percent), the payroll tax chiefly hits the middle class and the working poor.

Suggest removal:

4sewingnut(33 comments)posted 2 years ago

The Democrats also want to let the payroll tax expire so don't blame it all on the Republicans. With Social Security in the state it's in, neither party should have agreed to the 2% cut 2 years ago.

Suggest removal:


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes